Top of Mind
Alan Krueger, chairman of the council of economic advisers, used a speech at the Rock and Roll Hall of Fame to show how pervasive the "winner-take-all" economy has become—in both the music business and the broader society. He noted that "the share of concert revenue taken home by the top 1% of performers has more than doubled, rising from 26 percent in 1982 to 56% in 2003. The top 5% take home almost 90% of all concert revenues." Krueger went on to argue for an economy that grows from the middle out, not the top down.
More on the economic consequences of inequality: "Is economic inequality too big a risk?" with Yale's Robert Shiller and Jacob Hacker.